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February 23, 2020
Question

How do I put in room and board expenses for 529 plan? Must I use form 1040 instead of form 1040-sr? If so how do I specify form 1040? TT automatically selected 1040-sr.

  • February 23, 2020
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    February 24, 2020

    You need to enter the room and board in the "Expenses and Scholarship" section of TurboTax as follows:

     

    1. In the "Federal" section of TurboTax, find "Deductions and Credits"

    2. Look for "Education" and then "Expenses and Scholarships"  and click on the "Start" option

    3. Work through the section to find a screen that says "Did you pay for books or materials to attend school", you will see an option on the page to enter your room and board expenses

     

    TurboTax will determine what form is appropriate for you based on your entries in the program. Form 1040-SR is a new form that individuals age 65 and over may qualify for. It is a simpler form than form 1040.

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